"Where do you think the top will be?"
At the actual top, there will be no talk of the top.
Those who have been here since the bottom are the ones who have already experienced a cycle. They have profits and feel a sense of euphoria that they only felt at the top in the last cycle. Being early makes you feel late mid-cycle.
Talk of the top is a good sign that retail investors are not here yet.
As we move later into the bull cycle, more newcomers join. For them, thoughts of a top will not even cross their minds.
Those who worried about a top in the middle of the cycle have now adjusted their plans in the worldwide retail euphoria and have also forgotten about a top.
So, perhaps the best signal for identifying the top would be when everyone, including you, stops worrying about it.
